Tony Hayward Gets a Life Post-BP as Investors Write Blank Check
One of the best moments of Tony Hayward ’s 28-year career with oil giant BP Plc (BP/) came before dawn on Christmas 1982.
Hayward says he was aboard a freezing oil platform in the middle of the North Sea as the rig’s drill struck oil. The Miller field was the first major find for Hayward, then a 25- year-old geology Ph.D. from the University of Edinburgh. It became one of BP’s most productive North Sea assets, yielding 345 million barrels of oil over its lifetime, Bloomberg Markets magazine reports in its October issue.
The worst moments of Hayward’s BP career are far better known. On April 20, 2010, BP’s Macondo well in the Gulf of Mexico exploded, killing 11 workers on the Deepwater Horizon oil platform and unleashing the worst offshore oil spill in U.S. history.
The disaster erased more than $100 billion from BP’s market value in two months, and the company took a $41 billion charge against income to cover fines, cleanup costs and compensation to Gulf fishermen and property owners.
Macondo also cost Hayward his job as BP’s chief executive officer following a string of public relations fiascoes that included his saying “I would like my life back” to a group of reporters while touring an oil-slicked beach in Louisiana.
Reputation FouledWhile Hayward’s reputation in the U.S. is as fouled as some Gulf Coast beaches were after the spill, he still is welcome in the oil patch. “People know he was the scapegoat, he was the sacrificial lamb,” says Fadel Gheit, an oil and gas analyst at Oppenheimer & Co.
Now, Hayward, 54, is getting his life back. A year after leaving BP, he’s again at the helm of a publicly traded company. He teamed up with financier Nathaniel Rothschild , scion of the banking family, to create Vallares Plc, a shell company that raised 1.33 billion pounds ($2.15 billion) through an initial public offering on the London Stock Exchange on June 17.
Hayward also serves on the board of TNK-BP International Ltd., BP’s fractious Russian joint venture. Glencore International Plc, the mining and commodities-trading company that went public in London and Hong Kong in May, raising $10.3 billion, named him its senior nonexecutive director.
England Royalty Hiarchy - News
Walter van de Vijver resigned as head of exploration and production at Royal Dutch Shell Plc (RDSA) in 2004 after the company admitted to lying about its reserves. A London-based energy investment fund that van de Vijver then founded flopped.
The Pope was also given a royal welcome by 2500 other young Catholics gathered in the piazza of the Cathedral. The first anniversary of the Pope's visit is now approaching and many consider that the joyous greeting that Paschal gave the Pope dispersed
Reports in America said training by British and French special forces helped smash Gaddafi's resistance at the weekend. A team of 20 military personnel based in the rebel capital of Benghazi have been advising the rebel hierarchy on communications and
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Poemar.com » Checks and Balances
One of the most highly anticipated royal weddings will finally take place this Friday, April 29th. The late Princess Diana’s eldest son, Prince William, will marry his
long time girlfriend Kate Middleton at Westminster Abbey in London, England. It’s been widely reported that the couple has NOT signed a prenuptial agreement, even
though Prince William stands to inherit nearly a HALF billion dollars from his royal hierarchy.
Ok, so what’s really going on here? Let’s “check” the facts using our Checks and Balances process.
C1 3) Checks: It appears as if the ONLY document Prince William and Kate Middleton will be signing, is their marriage certificate, as plans for a prenuptial agreement seems to be
out of the question! As Prince William marries his girlfriend of 8 years this week, he insists that divorce is NOT an option for them. The prenuptial debate has been
a highly publicized topic leading up to the wedding, as the royal family has seen its share of unsuccessful marriages. 3 out of 4 of Queen Elizabeth II’s children
have been divorced, all reportedly without prenuptial agreements. The most notable, was the divorce between Prince William’s parents, Princess Diana and Prince
Charles, in 1996. Prince Charles ended up turning over his ENTIRE personal fortune to Diana, equivalent to $27 million US dollars. Nevertheless, the future King of
England has made it clear that “divorce is not in their future!”
In regards to American royalty, a term often used to reference Hollywood A-listers, many marriages have started off on the right foot, only to END up with a BITTER
divorce battle over money and assets. For example, when Mel Gibson and his ex-wife, Robyn split up, due to irreconcilable differences, Gibson’s fortune was estimated
to be $900 million.
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